Available in All Tennessee Counties
Taxscribe transforms tax management for business owners and CPAs in Tennessee, streamlining the shift from paper forms to efficient online filing. Offering advanced user management, easy data import, intuitive form completion, smooth submission processes, and comprehensive analytics, Taxscribe makes tax filing easier. It ensures businesses of every scale effortlessly navigate Tennessee’s tax compliance requirements.
Available Forms:
- - Tangible Personal Property Schedule (CT-0025-9557)
What is Tangible Personal Property?
Tangible Personal Property is all property owned or held by a business to operate that business, including but not limited to, furniture, fixtures, vehicles, tools, machinery, equipment, raw materials and supplies.
Tangible Personal Property is all property owned or held by a business to operate that business, including but not limited to, furniture, fixtures, vehicles, tools, machinery, equipment, raw materials and supplies.
Who should file a Tangible Personal Property tax return?
Tangible Personal Property is filed by all partnerships, corporations, other business associations not issuing stock and individuals operating for profit as a business or profession, including manufacturers, except those whose property is entirely assessable by the Comptroller of the Treasury
Tangible Personal Property is filed by all partnerships, corporations, other business associations not issuing stock and individuals operating for profit as a business or profession, including manufacturers, except those whose property is entirely assessable by the Comptroller of the Treasury
When you should file:
The schedules that are mailed out are to be completed and returned by the business owner or the business owner’s representative by March 1 to the county assessor.
The schedules that are mailed out are to be completed and returned by the business owner or the business owner’s representative by March 1 to the county assessor.
Important Notes:
- The tangible personal property schedules are mailed by February 1 by the county assessor to each business operating in the county. If the business owner does not receive a schedule (s)he should call the local assessor’s office for a schedule.
- If a business owner fails to complete and file a schedule, the Assessor of Property must make a “forced assessment” regarding the quantity and value of the personal property held by that business by using information available on businesses of similar size and function, plus apply a 25% penalty for non-compliance
- If the business owner timely files (on or before March 1) a schedule and determines later that an error occurred on the schedule, the business owner will have until September 1 the following year to amend the schedule.
- Contact your local county assessor for more information
- The tangible personal property schedules are mailed by February 1 by the county assessor to each business operating in the county. If the business owner does not receive a schedule (s)he should call the local assessor’s office for a schedule.
- If a business owner fails to complete and file a schedule, the Assessor of Property must make a “forced assessment” regarding the quantity and value of the personal property held by that business by using information available on businesses of similar size and function, plus apply a 25% penalty for non-compliance
- If the business owner timely files (on or before March 1) a schedule and determines later that an error occurred on the schedule, the business owner will have until September 1 the following year to amend the schedule.
- Contact your local county assessor for more information
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